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Some of life's surprises are welcome. But for those surprises which are unwelcome, it's best to be prepared. Long periods of disability are especially difficult to handle financially.
Short-term disability covered by DPC
|TI's DPC programs help you manage a disability of less than 26 weeks.
Disability Pay Continuance (DPC) Basic: TIers are automatically enrolled and the coverage is free. DPC Basic continues 100 percent of your base salary for weeks two to 13 of your disability. (Week one is taken as Time Bank hours.) It also provides 75 percent of your base salary for weeks 14 through 26.
DPC Plus: This option provides more of your pay, continuing 100 percent of your base salary for the second week through the 26th week of disability. (Again, week one is taken as Time Bank hours). If you elect DPC Plus, a premium based on your rate of pay is deducted from your paycheck. You can only sign up for DPC Plus as a new hire or during annual enrollment.
This card gives details about how the DPC programs work.
For a few dollars out of each paycheck, you can purchase long-term disability (LTD) insurance which will replace much of your income if you are disabled for more than 26 weeks due to illness, injury and pregnancy.
Remember, you can only sign up for LTD as a new hire or during annual enrollment.
Here are the two types of LTD available.
- LTD Basic: This option provides coverage beyond 26 weeks of disability with 50 percent of your base salary. If you elect LTD Basic, a premium based on your rate of pay is deducted from your paycheck.
For 2016 income-protection prices, check the health plan prices here.
- LTD Plus: This option provides coverage beyond 26 weeks of disability with 66-2/3 percent of your base salary (basically, two-thirds of your base pay). If you elect LTD Plus, a premium based on your rate of pay is deducted from your paycheck.
Evidence of insurability required
To increase your income protection coverage or to begin participating in any income protection plan beyond DPC Basic, you'll need to complete a form during annual enrollment. The evidence of insurability (EOI) form will be mailed to your home with the confirmation of your annual enrollment choices.
All the details about TI's DPC and LTD benefits are in the 2016 Health and Insurance Benefits Guide, available on this website under "Benefits Guides."